We are always happy to see pipes from late Danish pipemaker Poul Ilsted. We consider ourselves to be the birthplace of selling his pipes since our founder and Poul Ilsted teamed up in the 1970ies. This is a very nice brandy with good grain and what we belive is a 18 ct. gold ring. The black handmade ebonite stem is new and made by Manduela (Poul's friend and apprentice). It has some charring and some burned rim which is why its rated three and priced as it is. We have the original bag.